TATA WINS PRIVATE FUNDING FOR JAGUAR

       India's Tata Motors has secured private funding for its British luxury-car manufacturer, Jaguar Land Rover.
       This means the firm will no longer seek state help, the group said on Tuesday.
       Tata, which bought Jaguar Land Rover (JLR) in June 2008, said it had secured 175 million pound (Bt9.79 billion) from the private sector. Last September, it approached the UK government for funding.
       "Tata Motors and JLR have been in discussions with commercial banks for JLR funding facilities, many of which have been successfully concluded in the last few months, and the balance is expected to be completed in the coming weeks," the comanies said.
       "Tata Motors and JLR also expect that a long-term loan from the European Investment Bank of 340 million pound, sanctioned to JLR, can also be successfully secured in the coming weeks through appropriate commercial arrangements.
       "With the positive trend in the external environment in financial markets and improvement in general liquidity, these arrangements have been and are expected to be concluded without necessitating guarantees from the UK government, for which discussions have been ongoing for some time."
       Tata completed its US$2.3-billion (Bt78.46 billion) acquisition of JLR from Ford in june 2008. The ailing US carmaker sold the brands to focuus on turning around its North American operations.
       Some 2,000 people have been laid off at JLR in recent years, with plants shut down and sabbatical leave given to staff. Trade unions have been pushing for more government support for JLR, which employs about 15,000 people.
       UK Business Secretary Lord Peter Mandelson welcomed Tuesday's announcement.
       "The fact that the banks and commercial capital markets are meeting JLR's funding is a clear sign of confidence in the company, its products and the automotive sector," he said.
       "This additional funding will allow JKR to invest in future models and succefully launch the new XJ saloon on schedule and updated Land Rover models later this year.
       "The government had offered bridging finance from the automotive assistance programme if necessary. We understand the Tata Group will now be successful in resolving longer-term financial needs, but we are willing to help again if necessary.
       "This is a good and encouraging outcome for JLR, its workforce and its supply chain."